Considering Healthcare Options For After Divorce
Healthcare is of prime importance for anyone, especially those who are 50 and above years of age. It is vital for someone at that age in the middle of a divorce. The trick to maintain a quality of healthcare coverage is to act quickly. Search for replacement coverage and try to keep the existing coverage as soon as you know that your marriage is about to end. Inform your attorney as soon as possible if you have an inkling that your spouse could fail to pay the required premiums or drop the employer provided insurance coverage. In case you are aware that you may require the coverage of private health insurance after the divorce, begin the process as quickly as possible. Longer time could be needed for studying the different policy options and for coverage application.
Understand that the cheapest health insurance is employer offered group insurance. You will be considered lucky if you get covered through own employment. In case you get covered via the workplace of your spouse, there is a possibility that you will get COBRA coverage. If not, individual insurance is the best bet.
Individual plans in healthcare
A number of varieties of individual plans related to healthcare exists. These include expensive plans providing greater coverage and many lower priced plans could restrict physician and hospital access. There can also be plans with zero deductibles, no waiting periods and no co-pays. There could also be umbrella plans with a number of health services. Others could be PPOs or preferred provided plans, catastrophic plans, HMO plans and mini-med plans.
Individual health insurance can be purchased via an insurance agent, insurance company website or any wholesale purchasing entity like trade association, credit union or organizations like American Association of Retired Persons or AARP. You should compare policies of same type and providing same benefits. If not, a difference in price becomes meaningless. You should know important insurance terms like deductibles, co-pay or co-insurance and covered expense so that you select the right plan.
Coverage cancellation and renewal
Once you get insurance coverage, the carrier cannot cancel the health coverage at will. Do keep in mind that the insurance could be canceled if you fail to pay premiums or fail to disclose all the relevant medical information. It may also be canceled due to the elimination of benefits. You should preferably chose guaranteed renewable coverage.
Getting divorced in California can be complicated. Download our free eBook, 18 Important Things to Know About California Divorce to educate yourself on the process.
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